KRS 62.060: Bonds of officers, depositories and fiduciaries -- Form -- Conditions --

Amount -- Renewal.

(1) Except as provided by KRS 395.130, the bond required by law to be executed and

given by any public official, depository of public funds, or any fiduciary, a nd other

bond required by law for the discharge or performance of any public or fiducial

office, trust or employment, shall be a covenant to the Commonwealth of Kentucky

from the principal and surety or sureties that the principal will faithfully discharge

his duties, and there shall be no other obligation in the bond. The bond shall be

limited in a definite penal sum, which shall be determined and fixed by the officer

or officers whose duty it is to approve the bond. The bond of each fiduciary shall be

fixed in a penal sum of not less than the estimated value of the estate which the

fiduciary is in charge of. The officer or officers taking any bond mentioned in this

section may, at any time when it appears to be to the interest of the obligee, increase

the penal sum of the bond or require a renewal thereof with other or additional

sureties.

(2) A bond or obligation taken in any form other than that required by subsection (1)

shall be binding on the parties thereto according to its terms.

(3) This section shall not apply to bonds given pursuant to KRS 62.160 to 62.200.